Snyder’s-Lance, Inc. (NASDAQ:LNCE) Stock Rating Reaffirmed by UBS AG
Snyder’s-Lance, Inc. (NASDAQ:LNCE)‘s stock had its “neutral” rating restated by research analysts at UBS AG in a research note issued to investors on Tuesday, www.flashratings.com reports. They currently have a $35.00 price objective on the stock, down from their prior price objective of $37.00. UBS AG’s target price would indicate a potential downside of 0.34% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Jefferies Group LLC restated a “buy” rating and set a $44.00 target price on shares of Snyder’s-Lance in a research note on Wednesday, April 26th. BidaskClub downgraded shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. SunTrust Banks, Inc. downgraded shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and lowered their price target for the stock from $45.00 to $30.00 in a report on Monday, April 17th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $38.00 price target on shares of Snyder’s-Lance in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Snyder’s-Lance has an average rating of “Buy” and an average price target of $38.67.
Shares of Snyder’s-Lance (NASDAQ LNCE) traded down 1.22% during mid-day trading on Tuesday, reaching $34.69. The company had a trading volume of 157,756 shares. Snyder’s-Lance has a 12 month low of $31.03 and a 12 month high of $40.85. The firm’s 50-day moving average is $36.50 and its 200 day moving average is $37.82. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 65.95 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.01. The company had revenue of $531.50 million during the quarter, compared to the consensus estimate of $529.53 million. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, equities research analysts predict that Snyder’s-Lance will post $1.10 earnings per share for the current year.
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In related news, Director Peter P. Brubaker acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $37.10 per share, for a total transaction of $37,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Bruderman Asset Management LLC increased its stake in shares of Snyder’s-Lance by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 3,109 shares of the company’s stock worth $104,000 after buying an additional 9 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Snyder’s-Lance by 10.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,435 shares of the company’s stock worth $116,000 after buying an additional 334 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Snyder’s-Lance by 25.4% in the third quarter. Advisor Group Inc. now owns 4,143 shares of the company’s stock worth $138,000 after buying an additional 838 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Snyder’s-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock worth $138,000 after buying an additional 608 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Snyder’s-Lance by 68.7% in the second quarter. Creative Planning now owns 4,083 shares of the company’s stock worth $141,000 after buying an additional 1,663 shares during the last quarter. Hedge funds and other institutional investors own 64.80% of the company’s stock.
Snyder’s-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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